Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $137.92

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have received an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $137.92.

Several analysts have recently weighed in on NBIX shares. StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Stifel Nicolaus increased their price objective on shares of Neurocrine Biosciences from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, December 12th. They set a “buy” rating and a $136.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $137.83 on Thursday. The firm has a 50 day simple moving average of $137.25 and a 200-day simple moving average of $124.38. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 56.95, a price-to-earnings-growth ratio of 0.90 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The business had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts expect that Neurocrine Biosciences will post 4.88 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,050,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Kevin Charles Gorman sold 105,835 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $132.44, for a total value of $14,016,787.40. Following the transaction, the chief executive officer now directly owns 499,754 shares of the company’s stock, valued at approximately $66,187,419.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ingrid Delaet sold 200 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,050,980. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,055 shares of company stock worth $49,891,073. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its position in Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after purchasing an additional 74 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Neurocrine Biosciences by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after acquiring an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after acquiring an additional 78 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after acquiring an additional 83 shares in the last quarter. Finally, Balentine LLC boosted its holdings in shares of Neurocrine Biosciences by 4.0% in the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after acquiring an additional 89 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.